Summary: Rhode Island Health & Educational Building Corp. Bryant University; Joint Criteria; Private Coll/Univ - General Obligation Nov 11
- Language: English
- Published: November 2011
- Region: Rhode Island
Standard & Poor's Ratings Services assigned its 'A' standard long-term rating to Rhode Island Health and Educational Building Corp.'s series 2007 higher education facility revenue bonds, issued for Bryant University. In addition, Standard & Poor's affirmed its 'A' underlying rating (SPUR) on bonds issued for the university. The 'A' rating reflects: Strong financial results, which allowed Bryant to produce consistently large annual operating surpluses; Positive enrollment trends that are characterized by the steady increase in headcount and a large increase in applications; Adequate liquidity levels for the rating category, with unrestricted resources equal to 152% of operating expenses and 181% of pro forma debt; and A manageable pro forma debt burden at roughly 5.6%. Offsetting factors include the university's competitive...
Companies mentioned in this report are: Bryant Univ,Rhode Island Hlth & Educl Bldg Corp
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
SHOW LESS READ MORE >
Bryant Univ,Rhode Island Hlth & Educl Bldg Corp